New Delhi: Amid geo-political turbulence and the shrinking of world economies, India’s economy is expected to remain a bright spot in the global ecosystem, pushing the global growth trajectory to higher levels, particularly the regional growth in South Asia, leading economists said on Saturday.
The latest United Nations’ World Economic Situation and Prospects (WESP) 2025 report projects India to grow at 6.6 per cent, compared to the world economy at just 2.8 per cent, the US at 1.9 per cent and China at 4.8 per cent.
The country is going to become the world’s third-largest economy by 2027 and the size of the economy is expected to be around $7 trillion by 2030, as economic reforms provide a great growth trajectory to the Indian economy.
According to economists, besides private consumption, what is also heartening is that the IIP growth numbers in November are excellent, having come in at 5.2 per cent which is a six-month high, driven by manufacturing growth, which came in at 5.8 per cent.
The long and short of the story is that capital goods, infrastructure, construction and private consumption… these are the pillars on which the Indian economy is currently firing from,” she added.
